Tighe won a new automobile from his employer for being the top salesperson in the...
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Accounting
Tighe won a new automobile from his employer for being the top salesperson in the entire firm. The auto cost the employer only $34,000 because he purchased a fleet of cars from the dealer; it had a retail price of $37,000. In addition, Tighes employer gave him $5,000 with which to pay the taxes on the prize. How much must Tighe include in his gross income?
a. $42,000
b. $37,000
c. $35,000
d. $32,000
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